New White Paper reveals financial services opportunities in China

Toowoomba and Surat Basin Enterprise (TSBE) chief executive officer Dr Ben Lyons has welcomed AustCham Shanghai’s recently released White Paper outlining opportunities for Australian financial services businesses in China.

Dr Lyons, who assisted in the White Paper’s delivery, said the financial services industry continues to be an opportunity area for Australian businesses.

“We have seen growing investment and participation in the Chinese market by Australian companies in recent years, with a number of new entrants to the China market across a range of different sectors and industries,” Dr Lyons said.

The White Paper is the third report to be prepared by AustCham Shanghai and follows the 2012 edition discussing a number of key challenges, opportunities and recommendations for Australian financial services businesses in the Chinese market.

“China’s financial market reform in the last couple of years and its continuation until now has been impressive and has allowed the growth that we are seeing to occur,” Dr Lyons said.

“Of course, the China-Australia Free Trade Agreement (ChAFTA) has had a significant impact and the establishment of free trade zones around Shanghai have been positive news for companies and investors in the financial sector.”

Dr Lyons said that as China continues to pose significant opportunities to Australia, and more importantly the Toowoomba and wider region, it was important to gain an understanding of all areas of growth.

“Most people know that food and agriculture are a key area of growth for this region, however, we as a region have a large number of professional service capabilities that are relevant to the China market,” Dr Lyons said.

A copy of the White Paper can be found by visiting: http://www.tsbe.com.au/module/documents/download/122/australian-financial-services-business-in-china_en.pdf